ePlus Releases IT Procurement Survey Results
Survey Conducted in Partnership with Next Level Purchasing and JVK Group Highlights Challenges of Managing Corporate IT Spend
HERNDON, VA - July 23, 2013 - ePlus inc. (NASDAQ NGS: PLUS - news) today announced that its subsidiary ePlus Systems, inc., a developer of advanced eProcurement and related software, released results from a survey on IT spend that gives organizations insight into managing this diversified area and the challenges it presents.
Survey respondents included more than 100 procurement companies representing SMB and enterprise organizations spanning various verticals in North America and Europe. The survey found that organizations desire more control over their IT spend as well as greater visibility to better manage IT purchases to help reduce costs.
Highlights of the survey results revealed the following:
- 64% indicate more than 10% of corporate spend is on information technology
- 60% believe IT is not tightly managed
- 88% desire more control over their total corporate IT spend
59% report that IT spend will increase throughout 2013
"This important data helps us to understand the challenges that procurement professionals are faced with every day," said Jim Kelly, CEO of JVKelly Group. "How well a company can manage its IT spend is an indicator of how well overall spend is being managed."
The survey also revealed more spend is occurring at departmental levels, which emphasizes that the lack of a standardized IT catalog and IT purchasing process cause a potential and avoidable increase in costs.
"This is an important discussion for us to have with our membership," added Charles Dominick, SPSM, SPSM2, president and chief procurement officer of Next Level Purchasing Association. "As an educator, we need to identify strategic initiatives for procurement professionals so that they can enhance their organization's bottom line."
"It was interesting to note that the needs of the SMBs were very much aligned with those within larger enterprises," said Ken Farber, president of ePlus Systems. "IT purchasing can be one of the most challenging categories to manage and potentially has the largest opportunities for savings-even when considering the multitude of configurations, pricing changes, and introduction of new products that occur on a daily basis."
To view the report, "State of IT Purchasing - 2013," visit ePlus' website at www.eplus.com/software/Pages/State-of-IT-Purchasing-Request-Form.aspx.
About ePlus Systems, inc.
ePlus Systems, inc., a wholly owned subsidiary of ePlus inc., delivers eProcurement and related solutions and services to help public sector clients and commercial organizations across all industries get the most value from their spend. Its diversified portfolio of solutions includes eProcurement, supplier enablement, catalog content management, spend analytics, document management, and asset management. These solutions help drive cost savings, improve compliance, and enhance productivity throughout the organization. ePlus solutions are offered as hosted Software as a Service (SaaS) and traditional enterprise licenses. For additional information about ePlus Systems, visit www.eplus.com/itplus.
About Next Level Purchasing Association
The Next Level Purchasing Association (NLPA) is the procurement profession's largest professional association, with over 260,000 members around the world. The NLPA specializes in providing procurement training and the SPSM Family of Certifications to procurement professionals and procurement departments. The NLPA's educational offerings help organizations reduce cost, improve operations, and mitigate risk while helping procurement professionals have more rewarding careers. For additional information about the Next Level Purchasing Association, visit www.NextLevelPurchasing.com.
About JVK Group
JVKellyGroup, Inc. (Huntington, NY) provides cost reduction and risk mitigation solutions for some of the world's largest organizations. By offering an integrated set of analytics, sourcing services, and technology, JVKellyGroup helps ensure that a company's spend is effectively analyzed, sourced, managed, and monitored. These services will help decrease sourcing cycle time and increase potential savings capture due to expertise in commodity areas as well as improve supplier relationships and mitigated supplier risk. Visit www.jvkg.com for more information.
About ePlus inc.
ePlus is a leading integrator of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, managed and professional services, flexible lease financing, proprietary software, and patented business methods and systems. Founded in 1990, ePlus has more than 890 associates serving federal, state, municipal, and commercial customers nationally. The Company is headquartered in Herndon, VA. For more information, visit www.eplus.com, call 888-482-1122, or email firstname.lastname@example.org. Connect with ePlus on Facebook at www.facebook.com/ePlusinc and on Twitter at www.twitter.com/ePlusinc.
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Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from financial market disruption and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; our ability to consummate and integrate acquisitions; the possibility of goodwill impairment charges in the future; significant adverse changes in, reductions in, or losses of relationships with major customers or vendors; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to reserve adequately for credit losses; our ability to secure our electronic and other confidential information; future growth rates in our core businesses; our ability to protect our intellectual property; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to adapt to changes in the IT industry and/or rapid change in product standards; our ability to realize our investment in leased equipment; our ability to hire and retain sufficient qualified personnel; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.